Managers
New hedge fund launches fell while liquidations were steady in Q4 to conclude 2023 as managers positioned for falling inflation and an improving economic outlook, albeit with geopolitical risk rising to historic levels, according to the latest HFR Market Microstructure Report.
Clients of ExodusPoint Capital Management, the $12bn multi-strategy hedge fund firm founded by Michael Gelbrand, pulled about $1bn in funds from the New York-based firm during 2023, the second straight year of withdrawals, according to a report by Bloomberg.
Amid an ongoing debate over the cost of US equities, global hedge funds have been upping their exposure to European stocks while reducing portfolio holdings in North American companies, according to a report by Reuters.
Optimism that Saudi Arabia and its OPEC+ allies will continue to restrict production, coupled with an improving economic outlook boosting consumption, has prompted investors to purchase oil at the fastest rate seen in over four years, according to a report by Reuters.
London-based, emerging markets-focused hedge fund firm Gemcorp Capital is putting together a 15-strong team to run its new new trading office, which is due to open in Abu Dhabi later this year, according to a report by Bloomberg.
With the price of gold having hit multiple record highs in recent weeks, hedge fund managers are now beginning to turn their attention to silver as the next potential precious metal momentum play, according to a report by Kitco.
Politan Capital Management, the activist hedge fund firm that already holds two seats on the board of Masimo Corporation as well as 8.9% share in the healthtech and consumer electronics company, has made another two  board candidate nominations.
Losses of more than $70m prompted multi-strategy hedge fund firm ExodusPoint Capital Management to stop Dubai-based Portfolio Manager Bhavit Sawjani’s trading activities late last year, according to a report by Bloomberg.
Hedge funds upped their bets against the yen last month during the week the Bank of Japan announced its decision to up interest rates and bring an end to the world’s last remaining negative-rate regime, according to a report by Bloomberg.
The approval of ten new spot bitcoin ETFs in the United States in January has prompted an upsurge in hedge fund “interest and activities” in cryptocurrency markets, according to a report by Bloomberg citing Max Minton, Asia Pacific Head of Digital Assets at Goldman Sachs.
